Jasper County Democrat, Volume 19, Number 21, Rensselaer, Jasper County, 10 June 1916 — ECHO OF McCOY BANK FAILURE [ARTICLE]

ECHO OF McCOY BANK FAILURE

Appellate Court Affirms Carroll Circuit Court on Check Against Geo. A. Williams. The appellate court Wednesday affirmed the Carroll circuit court in giving John C. Lowe of Monon a judgment for $629.24 against George A. Williams of Rensselaer on a check dated April 16, 1904. This js the third time the case has been before the appellate court. The first time the case was tried Williams won, and the appellate court reversed the judgment for errors. On the second trial Lowe won, but there were such errors that the trial court reversed the judgment in his favor.

It was shown that Lowe bought certain land at a foreclosure sale, and when the year of redemption came and the owner wished to redeem it he gave the certificate of redemption to Williams and his partner, U. M. Baughman, as his attorneys, to hold, in case the owner redeemed. The owner did redeem and the lawyers collected the money and deposited it in the bank of A. McCoy & Co. and notified Lowe of the fact. Lowe came over and saw his attorneys and received a check in payment, but did not cash it at the bank, taking the check home with him and depositing it in his home bank. This was on Saturday, and Monday the bank did not open nor never opened again. , The case in its details has become almost historical, but the opinion of the appellate court evidently has written the final chapter, although

the appellant still may file petitions to have the opinion set aside. The syllabus of the opinion follows: 9054. Williams vs. Lowe. Carroll 0. Allirmcd. Hottel, P. J. I 1) This is the same case found in II App. 1 and 49 App. 606 on former appeals. The appellant and his law partner collectedmoney for appellee as their (limit and deposited the money in their own name in a bank. The appellee came into town after banking hours, the appellant gave him a check on the bank for the amount due him, appellee placed the check in a hank in his home town, but the bank on which the check was drawn did not open its doors for business next (lay, but failed, and suit is on the check. Appellant has assigned error to the sustaining of dem u rrers * ‘to the first paragraph of answer to appellee’s complaint” and "to the second paragraph of answer to appellee’s complaint,” but the first paragraph was addressed to the “first ■paragraph” of the complaint and the second paragraph of answer to the second paragraph of coin plaint , and neither to the whole complaint, so there is no ruling of the court to comply with the assignment. (2) A check is not barred by the six-year statute of limitations. (3) Every presumption is in favor of the verdict against the answers of the jury. (4) An agent, depositing money collected for the principal in the bank in the name of the agent Will not be allowed to put the loss of the failure of the bank upon the principal.